EUR & Gold down, USD & Oil up – EURUSD dove to a 16-month low on broad Dollar strength; Oil prices up, breaking run of 10 down days. Disclaimer: Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of purchase or sale of any financial instrument. Read More
SOFIA (Reuters) - European Central Bank (ECB) will conduct a comprehensive assessment of six Bulgarian banks as part of the Balkan country’s bid to join the European Union’s banking union, Bulgaria’s central bank said on Monday.In July Bulgaria, who joined the EU in 2007, applied to join the banking union, a step toward the Black Sea state’s aim to enter the “waiting...Read More
NEW YORK (Reuters) - U.S. crude prices turned negative, reversing course as U.S. President Donald Trump said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting supply next year, citing softening demand.U.S. benchmark West Texas Intermediate crude CLc1 fell 17 cents a barrel to trade at $60.02 a barrel by 1:24 p.m. EST (1824 GMT). If the contract...Read More
Gold prices on Monday settled lower for a third straight session as a popular gauge of the dollar strengthened to its highest level in more than 17 months, weighing on demand for the precious metal. December gold GCZ8, +0.09% lost $5.10, or 0.4%, to settle at $1,203.50 an ounce, after posting a drop of 2% last week, falling nearly 1.4% on Friday alone. Monday marked the lowest finish for a most-...Read More
PG&E stock is eyeing its worst month since 2001California's "Camp Fire" is already the state's most devastating wildfire on record, and combined with the "Woolsey Fire," has killed more than 30 people and left more than 220 more missing. As such, the shares of California power providers PG&E Corporation (NYSE:PCG) and Edison International (NYSE:EIX) are getting destroyed today, with Morgan Stanley...Read More
WASHINGTON (Reuters) - U.S. President Donald Trump on Monday said he hoped there would be no oil output reductions, after Saudi Arabia said OPEC was considering cutting oil supply next year, citing softening demand.“Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply!” Trump wrote on Twitter, referring to the Organization...Read More
LONDON (Reuters) - Banks, law firms and other advisers stand to earn up to $963 million in fees from Takeda Pharmaceutical’s (4502.T) $62 billion takeover of drugmaker Shire (SHP.L), according to documents for the deal published on Monday.The deal will be the largest-ever overseas acquisition by a Japanese company and will lead to big payments to advisers working on both sides of the transac...Read More
ALK and AAL both just received "buy" recommendationsAlaska Air Group, Inc. (NYSE:ALK) and American Airlines Group Inc (NASDAQ:AAL) are in focus today, after Goldman Sachs initiated coverage on the stocks with "buy" ratings and respective price targets of $81 and $44. The brokerage firm is bullish in general on shares of U.S. airlines, as it sees strong revenue trends and an industry focus on cost...Read More
(Kitco News)- While allcommodities are suffering under the boot heel of a surging U.S. dollar, onejunior explorer CEO sees the potential for gold and silver to shine as thecurrent environment is unsustainable.Thomas Smeenk, CEO of Broadway Gold MiningMonday, theU.S. dollar rose to its highest level in 16 months, while gold fell to aone-month low and is in striking distance of testing psychological...Read More
(Reuters) - The Nasdaq Composite index fell about 2.5 percent on Monday, hit by a slump in Apple Inc (AAPL.O) shares after two suppliers cut their forecasts, sparking a selloff in other iPhone component makers and weighing on technology stocks in general.Apple shares (AAPL.O) fell 4.7 percent to $209.67, their lowest since July 27, after Lumentum Holdings Inc (LITE.O), the main supplier for Face I...Read More
(Reuters) - San Francisco's city attorney on Monday questioned the recent appointment of a new acting Attorney General, saying in a letter to the U.S. Department of Justice that his office may take court action if DOJ does not provide a legal justification.President Donald Trump last week named Matthew Whitaker to replace former Attorney General Jeff Sessions, who was forced out after months of at...Read More
Golden Reign Resources (TSXV: GRR; US-OTC: GRGNF) and Marlin Gold Mining (TSXV: MLN; US-OTC: MLNZF) have merged to form Mako Mining, which will begin trading on the TSX Venture Exchange under the symbol 'MKO' on November 14, 2018. Mako will focus on Golden Reign's San Albino gold deposit in northern Nicaragua and Marlin's producing La Trinidad gold mine in Sinaloa, MexicoUnder the terms of t...Read More
Euro Sun Mining (TSX: ESM) has become the first non-state-owned entity to receive a ratified mining licensce for its Rovina Valley copper-gold project in Romania, signaling that the East European nation is open for business, the company says.The mining company will now embark on an Environmental and Social Impact Assessment (ESIA), and continue its work on a feasibility study on the project, whic...Read More
PALERMO, Italy (Reuters) - Italy said on Monday it was confident the strongman who rules eastern Libya, Khalifa Haftar, would attend a peace summit, as Italian officials prepared to open the conference with no public sign yet whether Haftar would arrive.Libya’s prime minister, who is based in the west, arrived for the conference, but Haftar, the most powerful man in the east, kept the hosts...Read More
SWCH has struggled since its IPO last OctoberShares of Switch Inc (NYSE:SWCH) are slightly lower in afternoon trading, down 0.9% at $9.21, at last glance, as traders gear up for the company's third-quarter earnings. The security's fifth-ever report is slated to surface after the market closes tomorrow, Nov. 13. Below, we will dive into what the options market is expecting for the stock's post-ear...Read More
(Kitco News) - Gold andsilver prices are moderately down and have hit four-week and eight-week lows,respectively, in early-afternoon U.S. trading Monday. The precious metals arepressured by a very strong U.S. dollar on the foreign exchange market. The U.S. dollar index hit a 16-month high today. December gold futures were last down $5.30an ounce at $1,203.30. December Comex silver was last down $...Read More
NEW YORK (Reuters) - A long-reliable warning signal for stock investors that the tide is about to turn against them briefly flashed caution amid last month’s sell-off but does not appear to be calling an end to the bull market just yet.Like stocks, junk bonds - the high-yielding debt issued by the riskiest corporate borrowers - had a rough October, but nothing close to the magnitude of blood...Read More
LONDON (Reuters) - The Bank of France has partnered with U.S. banking group JPMorgan (JPM.N) to expand its range of gold bullion services for central banks, sources familiar with the matter said on Monday.The French central bank’s second deputy governor Sylvie Goulard wrote in the Alchemist, the magazine of the London Bullion Market Association (LBMA), that it had partnered with “a lar...Read More
Tilray will report earnings after tomorrow's closeWeed stocks will have the chance to react to earnings this week, with several marijuana companies set to report. Tilray Inc (NASDAQ:TLRY) is set to release its third-quarter report after the market closes this Tuesday, Nov. 13. Ahead of the event, the stock is down 0.1% today to trade at $107.82, but options traders are anticipating another big po...Read More
PARIS (Reuters) - Facebook (FB.O) will allow French regulators to “embed” inside the company to examine how it combats online hate speech, the first time the wary tech giant has opened its doors in such a way, President Emmanuel Macron said on Monday.From January, Macron’s administration will send a small team of senior civil servants to the company for six months to verify Faceb...Read More